Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. Section 49-17 of the general statutes is repealed. (Effective October 1, 2011)

This act shall take effect as follows and shall amend the following sections:

Section 1

October 1, 2011

Repealer section

Statement of Purpose:

To repeal provisions of the general statutes that permit title to mortgaged premises, which title has never been conveyed, to vest in a person entitled to receive the money secured by such mortgage in a foreclosure proceeding, in the same manner as such title would have vested in the mortgagee if the mortgagee had foreclosed, after the expiration of time for redemption and recording in the land records.

[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]